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Dec 5, 2013 6:00am EST
much energy. forget about the christmas parties. what is the mood at our major banks? can they make money next year? and if they can't, the answer is, more layoffs. thethere 950 pages of volcker rule, 950 layoffs in america? meredith whitney has it right? disaggregating, do we start seeing the separation and the reversal of the 30 year trend from aggregation of -- >> to partnership -- >> to partnerships, spinning off and creating value by disaggregating. over time i think it will -- we will be seeing it. banks being forced out of commodities. that could change early next year when the fed considers whether or not to allow them in and pay a surcharge. but the top line opportunities are not there. if you are 1/7 the size of the u.s. economy without a lot of leverage it is hard to grow faster -- >> 950 pages with a lot of layoffs. i think there will be a lot of hiring an legal and compliance. >> i think they are already there. but you have to give more people on board to interpret things like market-making. >> absolutely. >> shadow banking, which you cover so well in the book. new shad
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